Our LexisNexis® Map View clients are in for a treat this year when they get access to the new look and feel interface with performance enhancements, many new features and functionality improvements.
From actively listening to feedback from our customers and adjusting to the current market challenges and opportunities, we have expanded our suite of data visualisation and related services. Our customers are always at the forefront of everything we do and they will be able to reap the benefits of the latest version of Map View in a phased programme throughout 2020-2021.
LexisNexis® Map View helps insurance providers to write more profitable business: this can be enhanced by augmenting precise property intelligence with geospatial insights (physical property attributes, proximity, elevation and exposure to perils, environmental risks and many more data attributes). By combining these risk factors with current and historical data, which can include our contributory data platform assets, it is possible to form a comprehensive and accurate view of the risk of a property at address level.
Map View is connected to several external services, one of which can monitor and ingest live data feeds such as severe weather warnings. By spatially overlaying weather data in conjunction with insurance policy data we can inform insurers what their exposure is to any approaching storm or severe weather event. Having this knowledge and visualisation of these exposed areas is key for the insurers in terms of managing internal resources to manage this event, or supporting customers with alerts, or even securing loss adjusters in the event of a major claim event. Map View supports many types of accumulations from radial, to fire blocks accumulation, which all support exposure management, re-insurance submissions and inter-dependencies for any given territory.
Over our infrastructure these location-related insights can now be delivered back as a score, automatically into a quotation and into the underwriting processes, to prevent the breaching of exposure limits, or conversely to encourage the writing of new business in under-exposed regions.
The product features of LexisNexis® Map View today can be summarised in these main areas.
Beyond mapping: Spatial data feeding back into underwriting, pricing and business priorities
Map View clients are able to deal with all their geospatial data in one place, receiving quick and easy identification of geospatial risks and corresponding locations, with granular data (such as fire, flood, subsidence, crime and arson, building outline data and other local authority data) related to each.
We’re very proud to deliver the enhanced flexibility and scope of LexisNexis® Map View, together with the way it can now link across to our own data assets and the many other external data sources that we serve into the platform, together with the ability to import an insurer’s own policy data, overlaid with any additional scores or attributes as required by the client. All of these new services are available system-to-system, via LexisNexis® Informed Quotes, creating a single point of access to ingest powerful geospatial assets into existing systems or workflows, and uniquely back into quoting and underwriting.
It is a ‘build once-deploy to many’ environment, following which clients can continue to benefit from the future scalability and new data assets that we continue to build into LexisNexis® Map View. It derives from all of our insurance industry expertise and our resources in super-computing and managing significant data enterprise challenges at the global scale.
Follow the link for more information on how we support UK insurance. More information on LexisNexis Map View functionality can be found in the Map View Features e-book and the Map View Data Sets e-book.
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